Vornado Realty Trust (NYSE:VNO) Price Target Cut to $44.00 by Analysts at Evercore ISI

Key Points

• Evercore ISI has lowered Vornado Realty Trust's price target from $45.00 to $44.00, while maintaining an "outperform" rating, indicating a potential upside of 16.36% from the previous close.
• The stock recently experienced a 2.0% increase in value, trading at $37.81, while analysts predict earnings per share of 2.31 for the current fiscal year.
• Institutional investors and hedge funds own 90.02% of Vornado Realty Trust's stock, demonstrating significant institutional interest in the real estate investment trust.

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price target reduced by equities research analysts at Evercore ISI from $45.00 to $44.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's target price would suggest a potential upside of 16.36% from the company's previous close.

VNO has been the topic of a number of other reports. Scotiabank increased their target price on shares of Vornado Realty Trust from $42.00 to $45.00 and gave the company a "sector perform" rating in a research report on Monday, July 14th. Piper Sandler increased their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Mizuho dropped their target price on shares of Vornado Realty Trust from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Monday, July 14th. Truist Financial increased their target price on shares of Vornado Realty Trust from $37.00 to $38.00 and gave the company a "hold" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of Vornado Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.00.

Vornado Realty Trust Stock Up 2.0%

Shares of NYSE:VNO traded up $0.73 during trading hours on Wednesday, reaching $37.81. The stock had a trading volume of 222,844 shares, compared to its average volume of 1,440,816. Vornado Realty Trust has a 1 year low of $29.68 and a 1 year high of $46.63. The firm's 50 day moving average is $38.94 and its 200-day moving average is $38.56. The company has a debt-to-equity ratio of 1.81, a quick ratio of 4.10 and a current ratio of 4.10. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 13.98 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 20.60%. The company had revenue of $441.44 million for the quarter, compared to the consensus estimate of $468.79 million. During the same period in the prior year, the firm posted $0.57 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In other news, EVP Haim Chera sold 20,000 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.98, for a total value of $759,600.00. Following the completion of the sale, the executive vice president owned 30,000 shares in the company, valued at approximately $1,139,400. This trade represents a 40.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.42% of the company's stock.

Institutional Trading of Vornado Realty Trust

Several hedge funds have recently made changes to their positions in VNO. LPL Financial LLC lifted its stake in shares of Vornado Realty Trust by 11.9% in the 4th quarter. LPL Financial LLC now owns 78,917 shares of the real estate investment trust's stock worth $3,318,000 after acquiring an additional 8,398 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Vornado Realty Trust by 33.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,795 shares of the real estate investment trust's stock valued at $370,000 after purchasing an additional 2,205 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Vornado Realty Trust by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 3,131,504 shares of the real estate investment trust's stock valued at $131,686,000 after purchasing an additional 25,209 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Vornado Realty Trust by 2.8% in the 4th quarter. Wells Fargo & Company MN now owns 609,300 shares of the real estate investment trust's stock valued at $25,615,000 after purchasing an additional 16,811 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Vornado Realty Trust in the 4th quarter valued at about $2,763,000. Institutional investors and hedge funds own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully - integrated equity real estate investment trust.

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